Multiple Choice
Which of the following definitions of Economics include the economic concept of 'scales of Preferences'?
A) Wealth definition
B) Welfare definition
C) Scarcity definition
D) Growth definition
Correct Answer:
Verified
Correct Answer:
Verified
Q15: Find out the correct statement:<br>A)Prediction of economic
Q16: Microeconomics deals primarily with:<br>A)Comparative statics, general equilibrium
Q17: What is true for inductive method?<br>A)Hypothetical<br>B)Empirical<br>C)Ignores experimentation<br>D)Static
Q18: The word micro was first used in
Q19: State whether Economics is :<br>A)A positive science
Q21: Production possibilities curve does not show:<br>A)What to
Q22: To whom do you attribute the 'growth'
Q23: In a free enterprise economy, the problems
Q24: The validity of an economic theory is
Q25: Prof. Robbin's definition of Economics is:<br>A)Scarcity definition<br>B)Growth